Euro keeps riding high

18 March, 2016

The Euro has continued its strength today breaking through the US1.13.00 mark still riding high after yesterday’s dovish statement from the US Federal Reserve.

At 7.13pm (GMT) the EUR/USD was trading at US$1.13.18 after threatening to break below US$1.10.00 in yesterday’s trading,

Before yesterday’s Fed speech, the market had placed a more than 50 percent chance that the Fed would raise rates in June but now the figure has dropped significantly which lent some support to the Euro,

"The decision to keep policy unchanged came as no surprise. However, the Committee’s guidance on the future path for policy rates was more ‘dovish’ than both we and the markets expected. The immediate reaction has seen the US dollar and US Treasury yields fall sharply, and the probability that markets put on a June interest rate rise has fallen to 40% from 53% pre-announcement." Noted exchange traders from Lloyd’s.

Also helping the Euro’s cause today was better than expected industrial production figures from the Eurozone which came in at 2.1 percent against expectations of a 1.5 percent rise while the yearly figure faired even better coming in at 2.9 percent against a consensus of 0.8 percent.


Source link  
Gold set to go higher

The gold price has moved significantly higher over the last 4 trading sessions on the back of US president Donald Trump’s trip to Asia as well as political turmoil for the president back home...

Euro set to weaken further

The Euro is under further pressure today against its US counterpart after suffering heavy losses on Friday on the back of strong data from the US...

Gold awaits next Fed chair

The gold price is heading for a 2nd day of gains as the market awaits US president Donald Trump’s choice for the next candidate to run the US Federal...


Further supply cuts key to oil price

Brent oil is now sitting comfortably above the $60, making its highest level in more than 2 years on the back of a deal between...

Pound may tumble after rate decision

The British pound is trading higher again today against its US counterpart, following on from yesterday’s solid performance but some warn...

Will the BOE hike rates?

The British pound is under pressure in today’s trading after some analysts and a Bank of England board member threw into question


Double bottom may save gold

The gold price is under further pressure today as investors continue to pile into the US dollar on the back of proposed tax breaks by US president...

Oil to remain flat

The oil price is set to remain stagnant over the next few years according to some analysts with the outside possibility that the price could tumble if Opec members fail to cooperate...

Mini gold rally won't last

After hitting a low of $1,260 3 days ago, the gold price has rallied nearly $30 to be trading around $1,289 today and some are predicting...

  


Share: